I think most people lie because it is more convenient to lie. It makes you look like the hero. Who cares if it is not based on truth, It is all about the perception right? At least that must be the mindset of the gurus. It is harder to tell the truth especially when it puts your past statements in question. One reason for this is because the truth is not always well received. People judge you because you are messing with their comfort zone. They question your motives and find ways to discredit you. Anyone who has been truthful without agenda, impartial without taking sides has experienced this. Even though the truth brings conflict and it may be harder to tell there is freedom in it. There is bondage in lies and deceit. Yet I think that people sometimes like being in bondage or just maybe they don’t know they are even in it.
In my last article I talked about how pegged rates worked. I talked about how Iraq is using the U.S. dollar as a reserve for the dinar. I talked about the amount of currency in circulation and how the amount of reserve dictates the revalue. I talked about how they can’t raise the value of the dinar drastically without acquiring a vast amount of additional reserves.
The type of feedback I got was interesting be it email or comments. I was actually accused of working for the dealers. I get that a lot. Apparently some people think I talk bad about the dinar in an effort to get people to sell their dinar back to the dealers so they can resell it to other people. I then supposedly get a kickback for dinar that people sell to dealers. Anyone who believes this has got to know that this is denial on steroids. At least on their part
So let me be clear about my stated goals and desires concerning the dinar so there are no misconceptions.
1. If you are considering making your first dinar purchase, It is my hope that the factual information on this site regarding the dinar currency will make you decide otherwise.
2. If you have the dinar it is my desire to inform you that you have been told lies in an effort to sell you more. These lies amount to nothing less than fraud! I will give you examples shortly. But in the very least I hope you do not buy anymore
3. I would like to see dinar sales totally and completely shut down by the US government. I would like to see them prosecute certain dealers who have a money service business license to sell dinar based on the fact that they are marketing it as an investment with no license to do so. In the process of this they are making false claims to increase their sales.
4. If you currently hold dinar it is my goal that you are informed. I hope you will come to know that you have been scammed so that you can decide for yourself whether to keep it or sell it while you are still able to do so. You can sell it back to the dealers or you can sell it on eBay. I really don’t care. You won’t be able to sell it to banks. At least this is the case for my area and surrounding states. I know this because I tried to sell to the banks first.
5. My final goal is to expose every lie that made me invest in this currency in the first place. If I can provide the evidence and proof for the lies that circulate within the community then that will help people to make an educated decision and avoid the purchase of the dinar in the first place.
So now it is time to expose a common lie that circles within the dinar community. Here is an indictment that was handed down to the BH group. Notice some of the things that are in this indictment. I am taking this word for word.
The “BH Group” was formed by BRADFORD HUEBNER to market and sell the Iraqi official currency, the “dinar,” to individuals as an investment. The BH Group offices are located
BRADFORD HUEBNER filed paperwork registering the BH Group as a money service business specializing in the sale of Iraqi dinar.
CHARLES N. EMMENECKER is a self-styled entrepreneur who resides in Sylvania, Ohio. In recent years, CHARLES EMMENECKER has primarily marketed and sold a health related beverage described as “Xango.” In August 2010, CHARLES EMMENECKER merged his direct-marketing business with BRADFORD HUEBNER’s dinar business, which BRADFORD HUEBNER and MICHAEL TEADT were operating. By this time, BRADFORD HUEBNER had allied himself with a Jacksonville, Florida based resident by the name of RUDOLPH COENEN, in connection with marketing two non-existent “hedge funds” to both the BH Group’s dinar customers, as well as CHARLES EMMENECKER’s Xango distribution list.
MICHAEL TEADT entered into a conspiracy with BRADFORD HUEBNER regarding the sale oflraqi dinar currency in July 2010.
5. RUDOLPH M. COENEN is a resident of Jacksonville, Florida and holds himself out as a currency expert and former Vice President at JP Morgan Chase. RUDOLPH COENEN has variously claimed to be a former Marine who was wounded in combat during the first Gulf War, as well as a Purple Heart recipient. In fact, RUDOLPH COENEN worked for JP Morgan Chase for a total of one day as an Account Executive/Loan Officer and not as a Vice President, never served in the first Gulf War, was never wounded in combat, and never received a Purple Heart. RUDOLPH COENEN was instrumental in developing materially false and misleading statements regarding the Iraqi dinar currency and in falsifying information regarding the two non-existent hedge funds.
14. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, Executive Order 13303 which they alleged to protect the right of U.S. citizens who invest in Iraqi dinar currency. In fact, Executive Order 13303 protects assets of the Development Fund of lraq (DFI) and other Iraqi assets from legal attachments or liens. The Coalition Provisional Authority created the DFI in 2003 in order to promote the transparent use of Iraqi funds for purposes benefiting the people of lraq. Any assertion that Executive Order 13303 promotes, protects, or regulates the sale of, or investment in, Iraqi dinar is false.
15. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, the U.S. Department of the Treasury holding the Iraqi dinar, further alleging the Department of the Treasury held trillions of lraqi dinar for investment purposes. In fact, the U.S. Department of the Treasury does not hold any Iraqi dinar for investment purposes and holds only a nominal amount for use in daily operations. It was further the purpose and object of the conspiracy that BRADFORD HUEBNER,
RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT and others known and unknown to the Grand Jury, would aggressively market the Iraqi dinar and the non-existent hedge funds, to the point where their customers numbered in the tens of thousands, both in the United States and in foreign countries, thereby greatly increasing gross revenues to over $24 million U.S. dollars in less than a two-year period. In addition, the Iraqi dinar gross sales were materially enhanced by the merger of BRADFORD HUEBNER’s dinar and hedge fund sales list with CHARLES EMMENECKER’s Xango distribution list.
Read the full indictment.
So here are two main lies that circle the dinar community and the forums.
1. The government has trillions of dinar and they are waiting for the RV
2. Executive order 13303 makes it legal to sell the dinar and the executive order protects the dinar.
So our proof that this is not true is the fact that the government is pursuing a fraud case in part based on these two statements! Let us add this to the other lies that we were able to debunk on this site.
Here are all the actual true statements that are based on the facts.
1. The dinar will not be used to sell oil.
2. The dinar will not be used to rebuild Iraq.
3. There has never been a Kuwaiti revalue!
4. The lower denominations for the RV are not already printed
5. The dinar will not be an international traded currency
6. Iraq is not reducing the money supply
7. The Dinar will not be a reserve currency
8. The US does not have trillions of dinar
9. Executive order 13303 does not make it legal to sell dinar and it does not protect the dinar holder.
I purchased dinar based on all these lies. You may have too. This does not make us suckers. It makes us victims. The factual information on these statements was not easy to find. It took me two years. If the government is successful in this case (and they will be) then I think the BH group will be the first of many other gurus and dealers to be called into account.
Now I would like to talk about just one more lie that the indictment addresses. Let me quote from the indictment itself
7. The term “revaluation” (casually shortened to “RV” in dinar-sales parlance), refers to the contention that at some point in the near future, the dinar will rise against the U.S. dollar, a circumstance which will enrich earlier purchasers of the dinar. BRADFORD HUEBNER, CHARLES EMMENECKER, RUDOLPH COENEN and MICHAEL TEADT repeatedly advanced claims to potential investors over the telephone, through web pages, and through a weekly internet conference call that even relatively small investors in the dinar would, following the “revaluation” or “RV,” become wealthy overnight.
8. A “redenomination” of the dinar refers to an actual proposal by the Central Bank of Iraq, announced as recently as June 21, 2011, to re-print the currency to remove three zeroes from the physical dinar banknotes as a matter of convenience. A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency’s value. Under a redenomination, a new currency replaces an old currency, but the value remains the same. Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars. The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar.
So according to the Federal Government, the dinar is not going to revalue or RV. It is going to redenominate! In fact the government is pursuing a major fraud case based on the fact that the dinar will never RV! What further proof does one need! THE DINAR IS A SCAM!!!!!